LOT Old Heritage Auctions  /  2007 (ANA) Signature Coin Auction #444  / 

2169

1855 $50 Wass Molitor Fifty Dollar--Reverse

Currency:USD Category:Coins & Paper Money / US Coins Start Price:11,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1855 $50 Wass Molitor Fifty Dollar--Reverse
<B>1855 $50 Wass Molitor Fifty Dollar--Reverse Damage, Improperly Cleaned--NCS. XF45 Details.</B></I> The establishment of Wass, Molitor & Co. provided stiff competition for the quasi-official Moffat & Co. This loss of business was expressed in a letter to the Treasury Department (taken from Bowers' masterful <I>A California Gold Rush History</B></I>:<BR><BR> "To these representations we have now to add that the state of things above described the shortage of lower denomination gold has been continually growing worse; that a private establishment (that of Wass, Molitor & Co.) without reputation or responsibility, commenced operations early last week; that its issues are at a premium of 2 to 3 percent over those of this office; that the business of this office has nearly ceased, and not having been for the last 30 days sufficient to pay its current expenses, a humiliating and lamentable position for a government establishment."<BR><BR> The Reverse Damage mentioned on the insert appears to actually be not so much damage in the usual sense of the word, but rather tooling on the lower part of that side. There also are light, horizontal pinscratches in the center of the reverse. The surfaces are noticeably bright, this explaining the Improperly Cleaned designation. A rim bump is noted at 8 o'clock on the obverse, as well as numerous small to medium sized abrasions, most of which are scattered over the reverse. The striking definition is uncommonly strong on this piece with only slight loss of detail on Liberty's hair curls and the coronet. The reverse is uniformly well struck. <BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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